The energy crisis intensifies economic divergence in Africa, as soaring oil prices reignite inflation and interest rate hike concerns in multiple countries.

Golden Ten Data reported on March 5th that data shows the surge in oil prices triggered by the US-Israel war against Iran can only improve the current account balances of three Sub-Saharan African economies, while most other economies will suffer. Analyst Yvonne Mhango wrote in a report on Thursday, stating: "For most African economies, rising oil prices mean weaker exchange rates and a resurgence of inflationary pressures, which could bring the topic of interest rate hikes back to the negotiating table."